BREAKING NEWS: CNOOC Limited has just announced the successful commencement of production at its Yellowtail Project, located in the Stabroek Block offshore Guyana. This significant development comes ahead of schedule, marking a pivotal moment in the region’s oil production landscape.
The Yellowtail Project is set to produce 250,000 barrels of crude oil per day, which will elevate the total production capacity of the Stabroek Block to an impressive 900,000 barrels per day. This announcement was made on August 8, 2025, and is expected to have a substantial impact on both local and global oil markets.
The project features advanced facilities including a floating production, storage and offloading unit (FPSO) and a subsea production system. This FPSO, noted for being the largest in the Stabroek Block, boasts a storage capacity of 2 million barrels, alongside plans for 26 production wells and 25 injection wells.
Currently, the Stabroek Block is already producing around 650,000 barrels of crude oil per day due to ongoing operations at the Liza Phase 1, Liza Phase 2, and Payara Project. The addition of the Yellowtail Project will significantly boost overall production, further solidifying the block’s status as a key player in the oil industry.
CNOOC Petroleum Guyana Limited, a wholly owned subsidiary of CNOOC Limited, holds a 25% interest in the Stabroek Block. The project is operated by ExxonMobil Guyana Limited, which holds a 45% interest, while Hess Guyana Exploration Ltd. holds the remaining 30%.
This expedited production timeline not only showcases CNOOC’s commitment to enhancing its operational capabilities but also reflects the growing significance of the Stabroek Block in meeting global energy demands. As the oil market continues to evolve, the Yellowtail Project’s contribution could play a crucial role in stabilizing oil supplies.
WHAT’S NEXT: Industry experts will be closely monitoring the Yellowtail Project’s performance and its implications for global oil prices. Stakeholders are eager to see how this new production capacity will influence market dynamics and energy strategies in the coming months.
For further updates on this developing story, stay tuned as we bring you the latest information on CNOOC Limited and the Yellowtail Project.
